TMNAX — Counterpoint Tactical Municipal Fund
Data updated: 2026-08-28
TMNAX — Counterpoint Tactical Municipal Fund. Alternative · $289.67M AUM · 1.75% expense ratio. Holdings, fees, performance and SEC filings.
TMNAX Fund Overview
TMNAX — Counterpoint Tactical Municipal Fund is a US mutual fund managed by Northern Lights Fund Trust III, categorised as Alternative. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Northern Lights Fund Trust III
- Category: Alternative
- Assets under management: $289.67M
- 1-year return: 6.5%
- Ticker: TMNAX
- SEC CIK: 0001537140
- SEC series ID: S000061857
- Share class ID: C000200261
TMNAX Holdings
Top 10 holdings of Counterpoint Tactical Municipal Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| American High-Income Municipal Bond Fund | 40.13% |
| T. Rowe Price High Yield Fund, Inc. | 30.15% |
| Aim Tax-Exempt Funds (invesco Tax-Exempt Funds) | 16.30% |
| Vaneck ETF Trust | 8.55% |
| Nuveen Municipal Trust | 3.37% |
| Alliancebernstein National Municipal Income Fund, Inc. | 0.00% |
| Goldman Sachs Trust | 0.00% |
| Russell Investment Company | 0.00% |
| Pimco High Yield Municipal Bond Fund | 0.00% |
| Aim Tax-Exempt Funds (invesco Tax-Exempt Funds) | 0.00% |
TMNAX Portfolio Allocation
Asset-class allocation of Counterpoint Tactical Municipal Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.5% |
| Cash & Equivalents | 1.1% |
TMNAX Performance
Total returns for TMNAX (as of 2026-09-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 2.3% |
| 1 year | 6.5% |
| 3 years (annualised) | 4.1% |
| 5 years (annualised) | 2.1% |
TMNAX Risk Information
Risk metrics for TMNAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.4%
TMNAX Costs and Fees
TMNAX costs about $175 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.75%
- Gross expense ratio: 1.75%
- Portfolio turnover: 360%
- Brokerage commissions: 7248.59 bps of average net assets (SEC N-CEN)
TMNAX Cashflows
Over the 12 months to 2026-06, Counterpoint Tactical Municipal Fund had net outflows of $13.87M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $740.90K |
| 2026-05 | −$952.53K |
| 2026-04 | −$2.68M |
| 2026-03 | $724.25K |
| 2026-02 | −$2.79M |
| 2026-01 | $1.57M |
TMNAX Debt Constituents
No individual debt constituents are reported in Counterpoint Tactical Municipal Fund's latest SEC N-PORT filing.
TMNAX Prospectus and SEC Filings
Official Counterpoint Tactical Municipal Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-01-28
- Prospectus (485BPOS) — filed 2025-01-27
- Prospectus supplement (497) — filed 2026-02-04
- Portfolio holdings (N-PORT) — filed 2026-08-28
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2025-12-15
- Annual census (N-CEN) — filed 2024-12-13
Related Funds
Other Alternative funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.